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Indonesian Mining Law Adds Obstacles for Foreign Investors

By

Tom Wright

Updated Dec. 17, 2008 12:01 a.m. ET

JAKARTA -- A new Indonesian mining law aimed at taking more local control of the country's resources will go into effect as commodities prices are tumbling, a combination likely to deter foreign investment and hamper the industry.

The measure was passed by the parliament Tuesday after years of wrangling between the central government and...